<article><a href="http://info.singtel.com/">Singapore Telecommunications Limited</a> (Singtel) Wednesday <a href="http://infopub.sgx.com/FileOpen/NR21April2015_Singtel_seeks_delisting_from_ASX.ashx?App=Announcement&amp;FileID=344973">said</a> it had received approval from <a href="http://www.asx.com.au/">ASX Limited</a> (ASX) to delist from the Australian stock market.</article>

<a href="http://info.singtel.com/">Singapore Telecommunications Limited</a> (Singtel) Wednesday <a href="http://infopub.sgx.com/FileOpen/NR21April2015_Singtel_seeks_delisting_from_ASX.ashx?App=Announcement&amp;FileID=344973">said</a> it had received approval from <a href="http://www.asx.com.au/">ASX Limited</a> (ASX) to delist from the Australian stock market.
<a href="http://www.dealstreetasia.com/">DEALSTREETASIA</a> had recently reported that Singtel had sought approval to delist, citing ‘low trading interest. Its shares have been listed in Australia since 2001 <a style="color: #000080;" href="http://www.asx.com.au/documents/settlement/CHESS_Depositary_Interests.pdf">CHESS Depositary Interests (CDIs)</a>, following its acquisition of <a href="http://www.optus.com.au/">Optus</a>.
Trading in its CDIs will be suspended after the market closes on May 29 and communications company will be delisted on June 5, it <a href="http://infopub.sgx.com/FileOpen/NR22April2015%20Singtel_receives_approval_for_ASX_delisting-SGX.ashx?App=Announcement&amp;FileID=345261">said </a>in a regulatory filing.
As part of the delisting, CDI holders can convert their holdings to Singtel shares listed on the <a href="http://www.sgx.com/wps/portal/sgxweb/home/!ut/p/a1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNHB1NPAycDSz9wwzMDTxD_Z2Cg8PCDANdjYEKIoEKDHAARwNC-sP1o8BK8JhQkBthkO6oqAgAzDYPQQ!!/dl5/d5/L2dBISEvZ0FBIS9nQSEh/">SGX</a> on a one-to-one basis, or sell their interests in Singtel shares on the SGX through Singtel-arranged sale facilities.
Singtel had earlier said that delisting would not affect its business unit and operations in Australia, which contributed 30 per cent of the company’s earnings before interest, taxes, depreciation and amortisation in FY2014.
Justifying the move to delist, Singtel, in an earlier statement had said: “In recent years, the number of Singtel CDIs on issue has declined significantly and, as at 31 March 2015, represented only approximately 137 million of the 15.94 billion Singtel shares issued, or 0.86 per cent of Singtel’s issued capital. Daily trading volumes and liquidity of Singtel CDIs on the ASX are very low.”
“During the twelve months to 31 March 2015, the number of Singtel CDIs traded on the ASX accounted for only 6 per cent of all Singtel shares traded. This reflects institutional investors’ preference to hold and trade Singtel shares on its home exchange, the SGX. With little demand to drive liquidity in its CDIs, Singtel&#8217;s weighting in the S&amp;P/ASX200 index has been reduced to approximately 0.03 per cent as at 31 March 2015.
“This further diminishes the broader market appeal of Singtel CDIs. There is increased likelihood that Singtel’s index weighting will be further reduced over time.”
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Singapore Telecommunications Limited (Singtel) Wednesday said it had received approval from ASX Limited (ASX) to delist from the Australian stock market.



Singtel gets ASX approval for delisting; last day of trading is May 29

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Singtel gets ASX approval for delisting; last day of trading is May 29

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